ATLANTA (March 22, 2017) - CRIF Select, a division of CRIF Lending Solutions and industry-leading provider of indirect lending partner programs, celebrated a record year of funded loan volume in 2016. Volume jumped 22 percent to 116,255 loans and approximately $3.2 billion last year compared to 95,002 loans and $2.6 billion in 2015.
It also expanded its full-service client coverage to banks and credit unions in Louisiana, Minnesota and Washington. With the completed acquisition of Credit Union Auto Loan Network (CUALN), CRIF Select also now provides account management services in the Maryland and Virginia credit union markets.
CRIF Select specializes in indirect auto lending partner programs. With an expert focus on dealer and market management, CRIF Select supports a client base of more than 3,500 auto dealers and 90 full-service lenders. Client relationship managers and dealer representatives work together with both the lender and dealer to create efficient and profitable partnerships that drive business for both sides.
Additionally, CRIF Select’s integrated, technology-based solutions make loan approvals faster, more accurate and virtually paperless, delivering lower costs for institutions and better service for their customers and members. By connecting lenders and dealers through portals such as Dealertrack and RouteOne, CRIF Select eliminates the traditional stress and hassle associated with dealerships finding the best financing offers in their local markets.
“We usually see a downward trend towards the end of the year with funded loan volume, but we challenged the team to ensure it didn’t happen,” said Jeremy Engbrecht, President, CRIF Select. “Just like many other times in 2016, our team was up to the challenge. Our fantastic lending and dealership partners tirelessly worked alongside our sales, account management, operations and IT departments to bring the success of 2016 to fruition.”
About CRIF Lending Solutions
CRIF Lending Solutions combines innovative technology, services, and consulting to enable clients to be leaders in the financial services industry. This is achieved with knowledgeable and passionate people, strong partner cooperation and, above all, long-term interactive client relationships. CRIF Lending Solutions is a part of CRIF, the leading global company specializing in the development and management of decision support systems. For more information, visit www.criflendingsolutions.com.